After two years of supporting an in-house virtual reality movie company, Facebook's Oculus unit said Thursday it will shutter its Story Studio.

In a blog post, Oculus said it would continue to help finance outside production of VR content and will devote $50 million of its previously announced $250 million VR fund to support non-gaming creations.

This helps us turn our internal research, development, and attention towards exciting but unsolved problems in AR and VR hardware and software. We're still absolutely committed to growing the VR film and creative content ecosystem.

The upshot: On the one hand, the move means less internal support for VR production. But another way of looking at it is that Facebook believes the ecosystem is healthy enough that Oculus doesn't have to be the one making the content for its headsets, which is probably necessary for the long-term health of the industry.

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Trump agrees to TikTok deal "in concept"

Illustration: Sarah Grillo/Axios

President Trump on Saturday said he approved "in concept" a deal whereby TikTok will be allowed to continue operating in the U.S., with Oracle as its "trusted technology partner."

Why it matters: TikTok has nearly 100 million U.S. users, and is still growing fast. Trump has threatened to ban it, due to data privacy concerns related to TikTok's ownership by Chinese tech company

Updated 53 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 6:15 p.m. ET: 30,611,684 — Total deaths: 953,820— Total recoveries: 20,836,867Map.
  2. U.S.: Total confirmed cases as of 6:15 p.m. ET: 6,756,781 — Total deaths: 199,090 — Total recoveries: 2,556,465 — Total tests: 93,150,052Map.
  3. Politics: In reversal, CDC again recommends coronavirus testing for asymptomatic people.
  4. Health: The dwindling chances of eliminating COVID-19.
  5. World: Guatemalan president tests positive for COVID-19 — The countries painting their pandemic recoveries green.

Trump says he expects to announce a Supreme Court nominee "next week"

President Trump speaking prior to his departure from the White House on Sept. 19. Photo: Sarah Silbiger/Getty Images

President Trump said Saturday he expects to announce a nominee for Justice Ruth Bader Ginsburg's vacant Supreme Court seat “next week” and that the person will “most likely" be a woman.

What he's saying: "If somebody were to ask me now, I would say that a woman would be in first place, yes. The choice of a woman, I would say, would certainly be appropriate," the president told pool reporters.